Carl Icahn

"Back Into The Hurricane" - Doug Casey Warns "Gold Will Go Higher Than Most People Can Imagine"

"While we’ve spent the last several years in relative peace and calm inside the eye of the storm, we’ll be entering the other side of the hurricane wall later this year... It’s going to take gold a lot higher than most people can imagine at this point... I think $5,000 gold will happen at some point because we’re looking at a worldwide monetary crisis of historic proportions."

Big Names Are Bailing

The list of heavy hitters who are saying bad things about this world and its financial markets - while acting aggressively on their pessimism - is growing to alarming proportions.

Paul Singer Joins Icahn, Soros; Warns "It's A Very Dangerous Time To Be In The Market", Buys Gold

"The cure for the crisis — for the debt crisis, the financial crisis — has been deemed by the developed world governments to be more debt. There has not been a deleveraging. And after seven and a half years and counting of this mix of policies, at the moment we’re either in a stage of stagnation or rollover, possibly in the early stages of a global recession. So I think it’s a very dangerous time in the financial markets."

Soros Returns To Trading With "Big, Bearish" Bets On Economic Turmoil

After a nearly decade-long hiatus, not only has George Soros returned to trading, "lured by opportunities to profit from what he sees as coming economic troubles", but that he has personally directed "a series of big, bearish investments", meant to profit from the coming economic turmoil. The last time Soros became closely involved in his firm’s trading: 2007, "when he became worried about housing and placed bearish wagers." Over the next two years the bets netted more than $1 billion of gains.

Frontrunning: June 1

  • Japan PM delays sales tax hike, puts fiscal reform on back burner (Reuters)
  • Japanese Shoppers Keep Wallets Shut Despite Sales-Tax Delay (BBG)
  • Global stocks limp into June on oil and data slips (Reuters)
  • Euro zone factory growth remained tepid in May - PMI (Reuters)
  • China's factories steadying but weak, hopes for quick recovery fade (Reuters)

Allergan Stock Surges After Carl Icahn Announces "Large Position" In The Company

Carl Icahn appears to be a big fan of Brent Saunders. After Icahn was instrumental in placing his favorite CEO at the top of Forest Labs before it was acquired by Actavis several years ago - a deal which made then Forest Labs investor Carl Icahn hundreds of millions in profit - the billionaire investor is now doubling down on Saunders, and moments ago the billionaire investor announced that he has acquired a "large position" in Allergan, and confirms he is "very supportive of CEO Brent Saunders."

Phil Mickelson Charged In Insider Trading Scam, Accused Of Illegal $931,000 Profit

Having denied any investigation as "inflammatory and speculative" when the Phil Mickelson insider-trading brouhaha initialy erupted two years ago, it appears the golfer's lawyers may have to shift from the "deny deny deny" defense to "let's make a deal."  Having been unable to pin anything on Wall Street insider Carl Icahn, Vegas sports gambler Billy Walters, and pro-golfer Mickelson with regard their trading in Clorox (during Icahn's takeover bid); the SEC has arrested Walters and announced criminal charges against Dean Foods' Chairman Thomas Davis (who stepped down after suspicions of leaking insider tips) and after generating nearly $1million in profits from the Dean Foods trading tip Phil Mickelson is charged with insider trading and wilb be forced to disgorge ill-gotten gains.

Soros Makes Gold His Largest Holding As He Cuts Equity Exposure To Lowest Since 2013, Doubles S&P Puts

One of the more closely watched 13F reports yesterday in addition to that of Warren Buffett was that of Soros Fund Management, the family office of George Soros, which revealed that while the 85 year old billionaire was not quite as bearish as his former chief strategist Stanley Druckenmiller, or Carl Icahn for that matter, had turned decidedly sour on overall equity exposure.

Futures Fizzle After Oil Fades Bounce Above $48

It has been more of the same overnight, as global stocks piggybacked on the strong US close and rose despite the lack of good (or bad) macro news, propelled higher by the two usual suspects: a higher USDJPY and a even higher oil, if mostly early on in the trading session.

As Carl Icahn Was Selling Apple, This Central Bank Was Furiously Buying

As Icahn was selling, or just before as we don't know precisely when Icahn, who has since indicated he has turned massively bearish on the overall market, one entity was buying every AAPL share it could find. In fact, according to its latest 13F, everyone's favorite central bank that openly admits it is also a wholesale buyer of stocks (with a portfolio of some $100 billion), the Swiss National Bank reveals that in Q1 it bought another 4.1 million in AAPL shares, bringing its total to a record 14.5 milion shares.

Gundlach: "I See The S&P Going To 1600", Bashes Hillary Clinton

Gundlach told Reuters that the with the S&P500 rangebound around 2,050 for some time, "it's tough to get much of a rally off of price-to-earnings this high with earnings falling and the Fed itching to tighten with GDP growth already projected to decline," he said. In keeping with his recent skepticism, he said that his forecast on the market remains a gloomy one: "I'm sticking with my '2 percent upside and 20 downside' prediction on U.S. stocks.... it's working, I can see it going to 1,600."